I have came across posts from a few critics who has reserved some comments onÂ Robert Kiyosaki’sÂ “Rich Dad, Poor Dad”.Â Perhaps, these people already had a good grasp of the financialÂ andÂ money principles and saw what was in the book as too shallow.Â The book “Rich Dad, Poor Dad”, I believe, is targetted atÂ specificÂ general populationÂ who has very littleÂ financial knowledge and little interest in financial knowledge.Â Â The book is servedÂ to inspire and notÂ a guide on how the steps toÂ acquireÂ wealth.Â Robert Kiyosaki might have written…
Emotions play a great part on how we do investment.Â This is especially true when you have low level of investment and financial knowledge.Â Without much ofÂ that to rely on, we begin to invest on hunch or the feel of things, blindly following the crowd, or acting on hot tips.Â Often than not, we fall prey to all these emotional traps. Â
David Allen in â€œGetting Things Doneâ€ compares productivity to the martial arts. He gives instruction on how to become a black belt in your personal productivity with a â€œmind like waterâ€ that allows you to handle anything that comes your way with a balanced response. Becoming a black belt and having a â€œmind like waterâ€ in your personal finances is very similar. It means you can take whatever is thrown at you without knocking your finances out of control. You…
Your credit card company offers you a $10,000 credit line at a low promotionalÂ 2.99% Annual Percentage Rate (APR).Â Would you take it and put to good use?Â I don’t mean spending on “ego” toys like Plasma TV, new car, new furniture etc. :-PÂ What you choose could reflect if you have a mind set of the riches. Will thisÂ person take the offer?
We have always been looking at the schools to be the only source of education for our children.Â But personally, I see that in terms of financial knowledge, parents should also do their part in assisting andÂ ensuring that their childrenÂ has certain level of literacy.Â It mayÂ or may not be a formal form of learning (like going for courses, classes).Â It can also be learnt from the day to day life, like involving and explaining taxes and personal investments to the…
AreÂ you wealthy?Â How you know how wealthyÂ you are? Here’s a simple rule of thumb formulae where you can measure how wealthy you are.Â Â
A simple financial IQ test to test your knowledge of credit card, mortgage and other financial products.Â See if you know what is myth and what is the reality.
What did you do after you finish reading the “Rich Dad, Poor Dad”?Â You understood certain points but do you try putting it in practice.Â I know, we (at least me) often have thoughts to it, but never actually put into action. In fact, we don’t have to draw up big plans etc.Â Start small and try to improve.Â You just have to start somewhere. Here’s a post on how one guy put what he learnt into action.
Firevalt reported that a recentÂ article in the Las Vegas Review-Journal shows that most teenagers are financially illiterate. I suspect that this is true around the world.Â Financial knowledge are not widely taught in school, and parents themselves are not talking to their children about money management principle simply theyÂ don’t have enough understanding of that to teach their children as well.Â
The reasonÂ why Robert Kiyosaki’s “Rich Dad, Poor Dad” is so successful is because it is able to present the principle of personalÂ finance in a very clear and simple to understand way.Â Â I think Robert Kiyosaki understands that the general population has extremely low financial knowledge and anything too complex or technical would not attract them.Â He needs to present the simple principle in a way such thatÂ even aÂ 10 years old canÂ pick up with a little of effort.